The rampant hype around NFTs, fueled by million-dollar art buys and cryptocurrency billionaires, can make NFTs, or nonfungible tokens, appear like a novelty to a seasoned investor in assets like commercial real estate. Novelties, even popular ones, don’t make a business.
But amid the development and investment rush into new digital assets and platforms, including cryptocurrency and the metaverse, a small cadre of developers is trying to pioneer ways to trade real-world real estate assets with NFTs.